Making Money: A Guide for 1st Graders

Question 1

Which of these is a smart way to use money?

Accepted Answer

Saving money for important things

Answer

Spending all your money as soon as you get it

Answer

Buying things you don't really need

Answer

Borrowing money you can't afford to repay

Question 2

What is a budget?

Accepted Answer

A plan for how you will earn and spend your money

Answer

A list of everything you want to buy

Answer

A way to track how much money you have

Answer

A way to get out of debt

Question 3

If you want to buy a new toy, what is a good way to save up for it?

Accepted Answer

Keep your money in a safe place, like a piggy bank.

Answer

Ask your parents for extra money.

Answer

Borrow money from your friends.

Answer

Spend all your money now.

Question 4

What is the place called where you can keep your money safe and earn interest on it?

Accepted Answer

Bank

Answer

Store

Answer

School

Answer

Library

Question 5

What does it mean to invest?

Accepted Answer

To give money to someone who will use it to make more money for you.

Answer

To spend all your money now.

Answer

To save money in a piggy bank.

Answer

To borrow money from someone.

Question 6

What is the difference between a need and a want?

Accepted Answer

A need is something you must have to live, like food and water. A want is something you would like to have but can live without, like a new toy.

Answer

A want is something you must have to live, like food and water. A need is something you would like to have but can live without, like a new toy.

Answer

Needs and wants are the same thing.

Answer

I don't know.

Question 7

What is a budget?

Accepted Answer

A plan for how you will spend your money.

Answer

A list of all your expenses.

Answer

A way to save money.

Answer

A type of bank account.

Question 8

What is the best way to make smart choices about money?

Accepted Answer

Think about what you need and want before you spend money.

Answer

Spend all your money as soon as you get it.

Answer

Borrow money from your friends and family.

Answer

Don't worry about money.

Question 9

Which of the following is NOT a way for kids to earn money?

Accepted Answer

Winning the lottery.

Answer

Doing chores around the house.

Answer

Starting a lemonade stand.

Answer

Getting a part-time job.

Question 10

What is the most important thing to remember about money?

Accepted Answer

Money is a tool that can help you reach your goals.

Answer

It is important to have a lot of money.

Answer

Money can buy you happiness.

Answer

Money is the most important thing in life.

Question 11

What is one way you can earn money?

Accepted Answer

Help your parents with chores

Answer

Wait until you're older

Answer

Only grown-ups can earn money

Answer

Go to a store

Question 12

Which of these is a way to get money?

Accepted Answer

Working a job

Answer

Playing games with friends

Answer

Taking a nap

Answer

Eating candy

Question 13

Which of these is not a good way to manage your money?

Accepted Answer

Borrowing more money than you can repay

Answer

Spending less than you earn

Answer

Investing in a bank

Answer

Helping others who are in need

Question 14

Who can help you keep track of your money?

Accepted Answer

A banker

Answer

A teacher

Answer

A doctor

Answer

A police officer

Question 15

Where can you keep your savings safe?

Accepted Answer

In a piggy bank

Answer

Under your bed

Answer

In your toy box

Answer

In a friend's house

Question 16

Which of these is not a way to invest your money?

Accepted Answer

Buying candy

Answer

Buying stocks

Answer

Investing in real estate

Answer

Buying bonds

Question 17

What happens when you make more money than you spend?

Accepted Answer

You make a profit

Answer

You lose money

Answer

You get into debt

Answer

You run out of money

Question 18

What does it mean to be financially responsible?

Accepted Answer

Managing your money wisely

Answer

Spending all your money on things you want

Answer

Borrowing money from anyone who will lend to you

Answer

Investing all your money in one place

Question 19

How can you start your own business?

Accepted Answer

Sell something you make or do

Answer

Play games with friends

Answer

Watch TV

Answer

Go to school

Question 20

What should you do before buying something expensive?

Accepted Answer

Talk to your parents about it

Answer

Just buy it without thinking

Answer

Borrow money from a friend

Answer

Sell your toys to get the money

Question 21

How can you earn money?

Accepted Answer

Working at a store

Answer

Playing board games

Answer

Watching movies

Question 22

What should you do with extra money?

Accepted Answer

Save it for later

Answer

Spend it all at once

Answer

Share it with your friends

Question 23

What do you call the opposite of earning money?

Accepted Answer

Spending money

Answer

Saving money

Answer

Investing money

Question 24

Which is a smart decision about money?

Accepted Answer

Saving money for a future purchase

Answer

Buying a new game

Answer

Spending all your money on candy

Question 25

What is a job?

Accepted Answer

Something you do to earn money

Answer

Something you do for enjoyment

Answer

Something you do for your friends

Question 26

What is an example of a business?

Accepted Answer

A lemonade stand

Answer

A school

Answer

A playground

Question 27

What is the name of the paper money used in the US?

Accepted Answer

Dollars

Answer

Euros

Answer

Pounds

Question 28

What is a budget?

Accepted Answer

A plan for how you spend your money

Answer

A list of your toys

Answer

A way to track your savings

Question 29

Which of these is NOT a wise financial decision?

Accepted Answer

Spending all your money on candy

Answer

Saving your money in a piggy bank

Answer

Investing your money in a savings account

Answer

Borrowing money from your parents

Question 30

What is the difference between a wish and a need?

Accepted Answer

A wish is something you want but don't need, while a need is something you must have to survive.

Answer

A need is something you want but don't need, while a wish is something you must have to survive.

Answer

Wishes and needs are the same thing.

Answer

I don't know.

Question 31

Which of these is NOT an example of a job?

Accepted Answer

Mom

Answer

Teacher

Answer

Doctor

Answer

Police officer

Question 32

What is the most important thing to remember about money?

Accepted Answer

It's important to save money.

Answer

Money can't buy happiness.

Answer

It's okay to spend all your money at once.

Answer

Money is the most important thing in life.

Question 33

Which of these is NOT a way to make money for kids like you and me?

Accepted Answer

Going to school

Answer

Working a job (like helping with chores at home)

Answer

Starting a business (like selling lemonade)

Answer

Investing (like putting money in a savings account)

Question 34

What is a good way to keep your money safe and earn a little extra?

Accepted Answer

Putting some of your money in a piggy bank or a savings account at the bank

Answer

Spending all your money right now

Answer

Borrowing money from your parents

Answer

Buying all the toys you want

Question 35

What does it mean to invest?

Accepted Answer

To put your money in something like a savings account where it can grow

Answer

To give your money to someone else to use

Answer

To take a loan from the bank

Answer

To spend your money on toys

Question 36

Which is a smart thing to do with your money?

Accepted Answer

Save some of your money for the future

Answer

Spend all your money on candy

Answer

Borrow money to buy a new toy

Answer

Buy a big toy that you can't really afford

Question 37

What's the difference between a job and a business?

Accepted Answer

A job is when you work for someone else, while a business is when you work for yourself.

Answer

A business is when you make money, while a job is when you don't.

Answer

A job is when you get paid every hour, while a business is when you get paid every month.

Answer

There is no difference between a job and a business.

Question 38

Here are some ways to make a little extra money. Which one is NOT on the list?

Accepted Answer

Ask your parents for more money

Answer

Help your parents with chores

Answer

Do small jobs for your neighbors

Answer

Sell your old toys

Question 39

What's the best thing you can do with your money?

Accepted Answer

Invest it wisely

Answer

Spend it all right away

Answer

Keep it for later

Answer

Give it all away

Question 40

What's a good way to manage your money?

Accepted Answer

Save some of your money

Answer

Spend more money than you have

Answer

Borrow money to buy things you want

Answer

Keep all your money in a piggy bank

Question 41

Why do grown-ups plan ahead for money?

Accepted Answer

To be ready for surprises.

Answer

To buy things they want now.

Answer

To make more money.

Answer

Because it's fun.

Question 42

What might happen to someone who spends more money than they earn?

Accepted Answer

They might have to borrow money.

Answer

They might get richer.

Answer

They might be able to buy everything they want.

Question 43

Why is it important to think about how we'll use our money in the future?

Accepted Answer

So we can save for things that are still far away, like college or buying a house.

Answer

So we can have enough money to buy things we want right now.

Question 44

How can you earn money?

Accepted Answer

Working a job

Answer

Sleeping

Answer

Playing with friends

Answer

Watching TV

Question 45

How can you invest your money?

Accepted Answer

Putting it in a savings account

Answer

Giving it to a friend

Answer

Buying a new toy

Answer

Throwing it in the trash

Question 46

What is a smart thing to do with your savings?

Accepted Answer

Use it for something important in the future

Answer

Bury it in the backyard

Answer

Give it to a stranger

Answer

Spend it on candy

Question 47

What is a wise financial decision?

Accepted Answer

Making a budget

Answer

Investing in a business you don't understand

Answer

Borrowing money from your friends without paying it back

Answer

Spending all your money on toys

Question 48

What should you avoid doing with your money?

Accepted Answer

Spending more than you have

Answer

Giving it to charity

Answer

Saving it for a rainy day

Answer

Investing it in a stock market